29 OUR STRATEGY The ARC Group’s 2020-2024 strategy was devised in 2019, but its operating environment has changed substantially since then. The Covid-19 pandemic was a hard lesson in preparedness and the importance of risk insurance. Many AU members were unprepared, necessitating resource diversion to the crisis response. As a result, they were unable to pay their premiums, casting doubt on future pool participation. In response, the Group revised and realigned its strategy for improved adaptability while ARC Ltd. formulated its 2025 Inclusive Growth Strategy to complement the Group’s aims. The revised approach strengthens governments’ disaster risk management systems and helps countries build back better. OUR STRATEGY ARC Ltd.’s strategy is based on the Group’s three objectives: Innovate, Strengthen, Grow. These objectives are the foundation for our four priority areas: market penetration, product development, market expansion, and diversification. These guiding principles are fundamental to ARC Ltd.’s 2025 Inclusive Growth Strategy and will enable us to achieve the Group’s vision of becoming a $100 million insurer. ARC LTD. INCLUSIVE GROWTH STRATEGY PRIORITIES Increase customer participation and curb loss of market share to competition PRODUCT DEVELOPMENT MARKET PENETRATION Expand into new markets by leveraging technical expertise MARKET DEVELOPMENT Develop and roll out new sovereign insurance products Grow reinsurance, co-reinsurance and retrocession reinsurance DIVERSIFICATION ARC GROUP OBJECTIVES INNOVATE STRENGTHEN GROW A dynamic approach to innovation Bolstering continental disaster risk management Increased scalability and sustainability of ARC operations and coverage
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